Friday, January 12, 2018

A few comments from Steven Kopits of Princeton Energy Advisors LLC on Jan 12, 2017:

• Total US oil rigs were up 10 to 752 this week

• Horizontal oil rigs were up 4 to 654

• We have expected rig counts to rise sharply in recent weeks, and we saw some – but still insufficient – vindication this week.
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• Incredible price action again this week, with WTI breaching the $64 threshold, but with the Brent spread falling below $6.00.